Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $1,881.92

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $1,881.92.

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Barclays boosted their target price on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Finally, DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd.

MercadoLibre Trading Down 2.8 %

Shares of NASDAQ MELI opened at $1,597.60 on Thursday. The company has a market cap of $81.00 billion, a PE ratio of 71.05, a P/E/G ratio of 1.20 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The firm’s 50 day moving average price is $1,616.76 and its 200-day moving average price is $1,607.24. MercadoLibre has a 52-week low of $1,063.02 and a 52-week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter last year, the company earned $3.97 EPS. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre will post 33.81 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently modified their holdings of MELI. GQG Partners LLC raised its stake in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares during the period. WCM Investment Management LLC grew its stake in shares of MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares during the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $554,386,000. Morgan Stanley lifted its stake in shares of MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after acquiring an additional 236,744 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.